ThyssenKrupp says it is in talks with Saab over sale of Swedish shipyards

FRANKFURT, Germany--German heavy industry giant ThyssenKrupp said on Monday it is in talks with Saab of Sweden over the sale of its Swedish shipywards business.

The operations, formerly known as Kockums, employ a workforce of about 900 people and the aim of the talks was to safeguard those jobs and retain activities in Sweden, ThyssenKrupp said.

"ThyssenKrupp Industrial Solutions, a subsidiary of ThyssenKrupp, and Saab have signed a memorandum of understanding about a sale of Swedish Shipyard ThyssenKrupp Marine Systems," the German group said in a statement.